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1. Why We Still Need the World Bank

Author:
Robert Zoellick
Publication Date:
03-2012
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
In 2007, the World Bank was in crisis. Some saw conflicts over its leadership. Others blamed the institution itself. When the International Bank for Reconstruction and Development, the cornerstone of what became the World Bank Group, was founded in 1944, poor and war-torn countries had little access to private capital. Sixty years later, however, private-sector financial flows dwarfed public development assistance. “The time when middle-income countries depended on official assistance is thus past,” Jessica Einhorn, a former managing director of the World Bank wrote in these pages in 2006, “and the IBRD seems to be a dying institution.” In roundtable discussions and op-ed pages, the question was the same: Do we still need the World Bank?
Topic:
War and World Bank
Political Geography:
Afghanistan, Japan, and Europe

2. The Fall of the Pharaoh

Author:
Dina Shehata
Publication Date:
05-2011
Content Type:
Journal Article
Journal:
Foreign Affairs
Institution:
Council on Foreign Relations
Abstract:
Mubarak's ouster was the natural outgrowth of his regime's corruption and economic exclusion, the alienation of Egypt's youth, and divisions among the country's elites. How those elites and the young protesters realign themselves now will determine whether post-Mubarak Egypt emerges as a true democracy.
Topic:
World Bank
Political Geography:
Egypt

3. Independent Task Force Report: Reconstructing the Balkans

Author:
Charles A. Kupchan, Morton I. Abramowitz, and Albert Fishlow
Publication Date:
07-1999
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The last of the six Balkan Wars of the twentieth century is over. But it is by no means certain that a durable peace is at hand. After vast death, destruction, and savagery lasting almost a decade can the peoples of the former Yugoslavia live together again in peace? If so, the region will require sustained help and support from the West. The United States and its European partners are in the midst of mustering the necessary resources and political will. There are numerous uncertainties complicating efforts to proceed with the reconstruction of the area. Whatever the international community may proclaim, the borders of Serbia, Kosovo, Bosnia, and Croatia could well change. The management of Kosovo's status and its relationship to Serbia is likely to produce serious tensions within the Alliance and between NATO and Russia. What politically will emerge from a beaten and traumatized Serbia no one can predict. Nor is it clear that Montenegro will remain as part of Yugoslavia, particularly if Milosevic continues to rule. An ethically fragile Macedonia has been badly weakened by the war and the inflow of three hundred thousand Kosovar deportees. Albania barely hangs together as a state. Neighboring Rumania and Bulgaria have avoided violence and begun to remake their societies, but they have suffered economically from the wars. The area of reconstruction is small and the population limited; the task at hand certainly is not of the dimensions of restoring post-war Europe. But the problems are daunting. Without security there will be no development. NATO forces will be needed indefinitely to keep the peace in Bosnia and Kosovo. Much more must be done to promote political and economic reform in the region, requiring vision and planning. The states of the region will first need urgent help to stabilize their economies and manage enormous humanitarian problems. They must also be able to envisage a better future, one that holds out the prospect of bringing them into Europe's political and economic mainstream. Realizing that goal will require profound changes in their economies and institutions as well as in their relationships with each other. Faced with these challenges, Western countries and a host of international institutions have begun to address how to foster the broad reconstruction of the area. The EU-sponsored stability pact, adopted in Cologne in June, is the beginning attempt at a multifaceted, coordinated approach to the problem. The G-8 has agreed on a broad program of financial assistance, and the EU has pledged 1.5 billion dollars for aid to Kosovo alone. Numerous follow-up conferences are already planned. Much more work has to be done to give reality and coherence to such efforts. Balkan reconstruction will be a protracted undertaking. It will require extremely difficult commodities – a comprehensive approach and the will, resources, and mechanisms to implement the effort. It is mostly to such a long term approach that this preliminary working paper addresses itself. It does not deal with the immediate requirements of refugee return and humanitarian assistance nor the urgent repair of human and material infrastructure. The World Bank and the IMF in cooperation with many other international organizations and interested countries are coordinating the assessment of needs and costs and have issued preliminary reports. The purpose of this working paper is to provide a broad political approach and to highlight the three key components of a comprehensive, long-term strategy: building security, integrating the region into the European Union, and fostering economic and political reform. For the purposes of this paper, we consider the region to be Serbia, Kosovo, Montenegro, Bosnia, Bulgaria, Macedonia, Albania, Croatia, and Rumania. This is somewhat arbitrary and these states are at different stages of political and economic development. The problems of Rumania and Bulgaria are quite different than Serbia's and Kosovo's; Croatia is much further advanced than next door Serbia and Bosnia. They all have to be dealt with separately, and no single state should hold back the progress of others in entering Europe. But they also face a collective future and the region will enjoy a lasting peace only if all its states leave the past behind and move decidedly to join the wider community.
Topic:
NATO, Ethnic Conflict, International Cooperation, International Political Economy, and World Bank
Political Geography:
Russia, United States, Europe, Bosnia, Kosovo, Yugoslavia, Serbia, Bulgaria, Balkans, Macedonia, Albania, and Croatia